The annual energy price increase in Germany in August on average was 139%, latest producer price data showed this week. In a BDI survey of 593 businesses, more than a third said their existence was threatened by higher energy prices, up from 23% in February. Industry group VKU has also joined the chorus of concern, warning that local utilities faced insolvency due to high energy prices and possible defaults from their customers. read moreThe head of the German Chemicals Industry Association VCI on Tuesday said rising energy prices were a "huge alarm call" for Germany as a place to do business. He welcomed Buschmann's initiative to relax insolvency rules but added that suspending them outright again would be a "serious mistake".

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